Qualification shares, Business Law and Ethics

Assignment Help:

Qualification Shares:

S.183(1) provides that it shall be the duty of every director who is by the articles of the company required to hold a specified qualification, and who is not already qualified, to obtain his qualification within two months after his appointment, or within the shorter time (if any) fixed by the articles.

Subsection (3) further provides that if the director fails to obtain his share qualification, or ceases to hold the required number of shares, he shall vacate his office. If he does not actually do so but continues to act as director he becomes a de facto director : Rv Ivan Arthur Camps (67).

2. S.186 : Age Limit

S.186 provides that no person shall be capable of being appointed a director of a public company or a private company which is a subsidiary of a public company if at the time of his appointment-

a) He has not attained the age of twenty-one; or

b) b) he has attained the age of seventy.


Related Discussions:- Qualification shares

Proxies - meetings and resolutions, PROXIES - meetings and resolutions: ...

PROXIES - meetings and resolutions: By S.136(1), any member of a company entitled to attend and vote at a meeting of the company shall be entitled to appoint one more person (

General Partner - Liability of Partners, General Partner - Liability of Par...

General Partner - Liability of Partners The General partner's liability extends for the whole of the debts to the partnership. Thus he is jointly with the other partners. Conv

Defining phoenix activity in legislation, Defining phoenix activity in legi...

Defining phoenix activity in legislation Some stakeholders noted that defining phoenix activity in legislation could be beneficial if the definition was appropriate and it was

State the world rate of interest, State the world rate of interest We ...

State the world rate of interest We have assumed that the world rate of interest only falls to equal R 2 . At point B, therefore, the domestic rate of interest is below the wo

Fraudulent trading, Fraudulent Trading: Section 323 provides that if, ...

Fraudulent Trading: Section 323 provides that if, in the course of the  winding up of a company, it appears that any business of the company has been carried on with intent to

Media Law, online Law test, Due tomorrow December 14th, 20 multiple choice...

online Law test, Due tomorrow December 14th, 20 multiple choice questions and 4 essay questions. Topics, Obscenity, child porn; broadcasting indecency, citizens united, ipr & cop

Scheme of arrangement, Scheme of Arrangement: The following sequence o...

Scheme of Arrangement: The following sequence of action is necessary:  (a) application is made to the court (usually by the company itself) for an order that one or more me

Labour and employment law , You are the HR manager of a large manufacturing...

You are the HR manager of a large manufacturing company which employs both unionized and non-unionized employees. You have a non-unionized employee, Edith, who has worked for the c

Impact of phoenix activity on employ superannuation, Q. Impact of phoenix a...

Q. Impact of phoenix activity on employ superannuation? Employees experience a range of impacts other than lost wages, entitlements and superannuation from phoenix activity. Fi

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd